CHENNAI (Metro Rail News): The Chennai Metro Phase II project, valued at Rs 61,843 crore, is currently awaiting approval from the Cabinet Committee on Economic Affairs (CCEA). Despite receiving approval from the Public Investment Board two years ago, the project’s clearance is still pending. The Tamil Nadu government has been funding the project in the hope of eventual approval from the center. However, if the funds are not released on time, the project may face obstacles.
The Phase II project aims to construct 128 stations and three rail corridors covering a total length of 118.9 km. The corridors include Corridor 3 (Madhavaram to SIPCOT for 45.8 km), Corridor 4 (Lighthouse to Poonamallee Bypass for 26.1 km), and Corridor 5 (Madhavaram to Sholinganallur for 47 km). The state government has already given its approval, seeking matching funding from the center and financial assistance from bilateral/multilateral agencies.
The Japan International Cooperation Agency (JICA) has offered a loan of Rs 20,196 crore for a 52.01 km stretch of Phase II, connecting Madhavaram to Sholinganallur (35.67 km) and Madhavaram to CMBT (16.34 km). Additionally, in-principle approval has been secured for funding the remaining 66.89 km through multilateral banks like the Asia Development Bank (ADB).
Chennai Metro Rail’s Managing Director, M A Siddique, confirmed that the proposal is with the Union government, and the state is permitted to proceed with the project pending CCEA’s decision. According to the officials, once the clearance is received, the state is expected to receive a matching equity contribution from the center. The commissioning of the entire Phase I is estimated to be completed by the end of 2025 or 2026, while Phase II has a deadline of 2028 for completion.